$BIDBANK contract address not live yet
Bidbank round 1 · opens at launch --:--
standing bid 0.001ETH first bid takes the board
when you are outbid

A 0.010 bid topped by 0.020 is paid 0.012 back: its own 0.010 plus 20% of the 0.010 gap.

paid back0.012

The board opens when $BIDBANK is live. The first bid takes it from 0.001 ETH; whoever tops you pays your bid back plus 20% of the gap.

minimum 0.001 ETH
ETH

Bid 0.001 and you take the board. If someone tops you at 0.0011 you get 0.00102 back.

Holders of 10,000 $BIDBANK · first bid 0.001 ETH · then at least 10% over the standing bid · a bid with under two minutes left moves the close two minutes out.

How the board pays

Bid

Holders of 10,000 $BIDBANK. The first bid is at least 0.001 ETH; every bid after it at least 10% over the standing bid. You cannot top yourself.

Outbid

The bid you beat is refunded in full plus 20% of the gap. 10% of the gap goes to the house and 70% into the bank (the first bid has nobody to refund, so its 20% joins the bank).

Close

A bid with under two minutes left pushes the close two minutes out. When the clock runs out anyone can close the round: the top bid takes the bank and the next round opens.

worked round

  1. A bids0.010bank 0.009
  2. B tops at0.020A paid 0.012 back · bank 0.016
  3. C tops at0.030B paid 0.022 back · bank 0.023
  4. clock outCtakes the 0.023 bank

Each top-up of 0.010 splits three ways: 0.002 to the wallet it beat, 0.001 to the house, 0.007 into the bank. A and B both walked away with more than they put in.